Please note that the Execution and Order Handling Policy has been updated. 

Please direct any questions regarding this Market Notice to venuequeries@tpicap.com

Post: TP ICAP E&C Limited, 135 Bishopsgate, London, EC2M 3TP, United Kingdom

Please note that the Execution and Order Handling Policy has been updated. 

Please direct any questions regarding this Market Notice to:

Email: tpsotfoperator@tpicap.com

Post: TP ICAP Broking Limited, 135 Bishopsgate, London EC2M 3TP, United Kingdom

Please note that the Execution and Order Handling Policy has been updated.

Please direct any questions regarding this Market Notice to:

Email: islotfoperator@tpicap.com 

Post: TP ICAP Broking Limited, 135 Bishopsgate, London EC2M 3TP, United Kingdom.

Please note that the following incentive schemes have been renewed on the ICAP UK OTF for the period of 1st January - 31st December 2025. 

• CDS Index Volume Discount Scheme
• Equity Index EFP Discount Scheme
• EUR & GBP Inflation - Volume Matching Platform Volume Discount
• Interest Rate Options - EUR/GBP Vanilla & Exotic Interest rate options

For further information regarding the schemes, please refer to the relevant sections of the venue rate card.

Please direct any questions regarding this Market Notice to:

Email: islotfoperator@tpicap.com 

Post: TP ICAP Broking Limited, 135 Bishopsgate, London EC2M 3TP, United Kingdom.

Please note that the following incentive schemes have been renewed on the TP UK OTF for the period of 1st January - 31st December 2025. 

• GEMM Gilts
• EUR & GBP Interest Rate Options and Inflation Swaps

For further information regarding the schemes, please refer to the relevant section of the venue rate card.

Please direct any questions regarding this Market Notice to:

Email: tpsotfoperator@tpicap.com

Post: TP ICAP Broking Limited, 135 Bishopsgate, London EC2M 3TP, United Kingdom

Please note that the following incentive schemes have been renewed on the TP ICAP UK MTF for the period of 1st January - 31st December 2025. 

• Rebalance Fixed Income Optimisation Trading System Fee
• eRepo Platform Access Fee

For further information regarding the schemes, please refer to Sections 1.11 and 1.23 of the rate card.

TP ICAP UK MTF Venue Page

Capitalised terms used in this Market Notice shall have the meaning ascribed to them in the TP ICAP UK MTF Rulebook.

Please direct any questions regarding this Market Notice to: 

Email: tpicapukmtfoperator@tpicap.com

Post: TP ICAP MTF Limited, 135 Bishopsgate, London, EC2M 3TP, United Kingdom

LONDON, 13 January 2025 – ICAP, part of the TP ICAP Group, a world-leading provider of financial markets infrastructure and data solutions, today announced the launch of a new Copenhagen-based Dry Bulk Commodities Desk, focused on brokering physical ferrous and non-ferrous metals.

With the launch of the desk, ICAP becomes the first traditional interdealer broker (IDB) to integrate physical and derivatives trading in the dry bulk commodities segment. This new capability allows ICAP to serve clients across the entire supply chain, from mine to consumer.

The new desk comprises an experienced globally-focused team, bringing a wealth of experience in commodities markets. The desk will be led by John Hamming, who brings more than 20 years’ experience in the dry bulk segment.

Joachim Emanuelsson, CEO – EMEA, TP ICAP Energy and Commodities Division said: 

“This is an exciting step forward as we expand our capabilities and bridge the gap between physical and derivatives markets. As the world’s leading energy and commodities broker, it’s important that we’re able to offer clients an unmatched, end-to-end service in the commodities space, strengthening our position as a trusted intermediary in this evolving market.”

John Hamming, Associate Director, ICAP commented: 

"By combining physical and derivatives trading capabilities, we are delivering a groundbreaking offering that enhances our value to clients. The combination of our team in Copenhagen, which brings decades of expertise to this venture, and TP ICAP’s unmatched global reach and depth of relationships means we are ready to help clients navigate the complexities of the supply chain with confidence and precision."

The new desk deepens TP ICAP’s energy transition capabilities – leveraging the firm’s expertise and access to physical commodity markets to enable corporate clients to manage the complicated process of moving from fossil fuels to renewable energy sources at scale. 

                                                                                  ENDS

About ICAP 
ICAP is a leading markets operator and provider of post trade risk mitigation and information services. ICAP matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks, post trade risk mitigation and ICAP’s information services provide data across all key asset classes and offers innovative solutions for real-time, end-of-day and historical products. ICAP is a TP ICAP company. For further information, please visit www.icap.com.

About TP ICAP Group plc 
TP ICAP is a global leader in connecting buyers and sellers across financial, energy, and commodities markets. Leveraging our expertise and cutting-edge technology, we provide unparalleled OTC liquidity and data solutions. Our portfolio includes renowned brands such as ICAP, Tullett Prebon, PVM, Liquidnet, and Parameta Solutions. These brands deliver trusted broking services, comprehensive data & analytics, and insightful market intelligence to clients worldwide. With a presence in over 60 offices across 28 countries, TP ICAP is committed to driving market efficiency and innovation.

Media Contact     
Tom Gilbert | +44 7741231950 | thomas.gilbert@tpicap.com         

 

Please note that Section 1.23 - eRepo Platform Access Fee Schedule of the Money Markets (IMMM) rate card on the TP ICAP UK MTF now includes a settlement fee. 

TP ICAP UK MTF Venue Page

Capitalised terms used in this Market Notice shall have the meaning ascribed to them in the TP ICAP UK MTF Rulebook.

Please direct any questions regarding this Market Notice to: 

Email: tpicapukmtfoperator@tpicap.com

Post: TP ICAP MTF Limited, 135 Bishopsgate, London, EC2M 3TP, United Kingdom

Please note that the Rate Cards for the Inflation Volume Matching Platform (section 1.7) and European Government Bonds (section 1.26) have been updated and take effect from 2 January 2025. 

Please direct any questions regarding this Market Notice to:

Email: islotfoperator@tpicap.com 

Post: TP ICAP Broking Limited, 135 Bishopsgate, London EC2M 3TP, United Kingdom.

2 January 2025

Market Notice 2025.001.ISWAPUKMTF

The purpose of this Market Notice is to advise that the iSwap GBP Market Maker Programme has been renewed with effect 1Jan25 and will run till 31Dec25.  The terms remain unchanged.

iSwap UK MTF Venue Page

Capitalised terms used in this Market Notice shall have the meaning ascribed to them in the iSwap Venue Rulebook, Rate Card or iSwap GBP Market Maker Programme Rulebook.

Please direct any questions regarding this Market Notice to:

Email: i-swap@icap.com

Post: 

iSwap Euro Ltd
TP ICAP Group plc
135 Bishopsgate
London
UK
EC2M 3TP

2 Jan 2025 07:30

The purpose of this Market Notice is to advise that an updated Ratecard has been made available on the Venue Page.  The headline rates on the EU MTF/SEF Orderbook Market and the EU MTF Targeted Streaming Market remain unchanged.

iSwap EU MTF / SEF Venue Page

Capitalised terms used in this Market Notice shall have the meaning ascribed to them in the iSwap Venue Rulebook, Rate Card or iSwap Market Maker Programme Rulebook.

Please direct any questions regarding this Market Notice to:

Email: i-swap@icap.com

Post: 

iSwap Euro B.V. 
Vijzelstraat 68 unit 109, 
1017HL, 
Amsterdam